Nifty is likely to open with a huge gap down tomorrow as indicated by Nifty futures traded on the Singapore Exchange. The Singapore Nifty, also known as SGX Nifty was trading around 14,136 as of 9:17 pm Indian Time as against Tuesday’s closing of 14,296. Indian equity markets were shut on Wednesday on account of Ram Navmi. Rising Covid inflections and subsequent lockdowns have dampened investor sentiment and also raised doubts about the country’s economic recovery, analysts said. (Also Read: SGX Nifty And Its Impact On Indian Markets )
Foreign institutional investors sold shares worth Rs 1082.33 crore on Tuesday, while domestic institutional investors bought shares worth Rs 1323.01 crore. On April 20, the Sensex slipped 0.51 per cent or 244 points to end at 47,706 and Nifty 50 index fell 63 points or 0.44 per cent to close at 14,296.
Meanwhile, FMCG major Nestle India reported a net profit of Rs 602 crore on Tuesday, registering a growth of 14.6 per cent in the January-March quarter from ₹ 525 crore during the corresponding period last year.
Additionally, infrastructure major KEC International today won orders worth Rs 1,245 crore across its various business segments. The RPG Group’s flagship company secured new orders across its civil, railways, transmission & distribution, and cables business verticals. It is the country’s second-largest manufacturer of electric power transmission towers.